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Rearden Metal wants to raise $5 million using 4 -month commercial paper. The net proceeds to Rearden will be $4,865,000. The effective annual rate for

Rearden Metal wants to raise $5 million using 4 -month commercial paper. The net proceeds to Rearden will be $4,865,000. The effective annual rate for this financing is closest to (\%) (2 decimal places)

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